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Taste Modulators Market to be Worth $2.79 Billion by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Taste Modulators Market by Type (Sweet Modulators, Salt Modulators, Fat Modulators), Form (Powder, Liquid), Application (Beverages, Food, Pharmaceuticals) - Global Forecast to 2030.’According to this latest publication from Meticulous Research®, the taste modulators market is expected to record a CAGR of 8.5% from 2023 to 2030 to reach $2.79 billion by 2030. The growth of this market is driven by the rising consumer awareness regarding health and wellbeing, growing consumer demand for low-calorie food products with original taste, and the wide range of benefits of taste modulators. Additionally, the increasing demand for innovative beverages and the expanding functional food industry offers significant growth opportunities for taste modulator manufacturers. However, stringent regulations and international standards for taste modulators restrain the market’s growth.
Key Players
The key players operating in the taste modulators market are Koninklijke DSM N.V. (Netherlands), International Flavors & Fragrances, Inc. (U.S.), Givaudan SA (Switzerland), Kerry Group plc (Ireland), Ingredion Incorporated (U.S.), Symrise AG (Germany), Sensient Technologies Corporation (U.S.), Tate & Lyle PLC (U.K.), Corbion N.V. (Netherlands), Carmi Flavor & Fragrance Co. Inc (U.S.), Flavorchem & Orchidia Fragrances (U.S.), and Archer-Daniels-Midland Company (U.S.).
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The taste modulators market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on type, the taste modulators market is segmented into sweet modulators, salt modulators, fat modulators, and other taste modulators. In 2023, the sweet modulators segment is expected to account for the largest share of the taste modulators market. The large market share of this segment is attributed to the desire for reduced sugar consumption, rising awareness about the ill effects of sugar consumption, growing incidences of diabetes and obesity, high demand for healthier and low-caloric foods, and expanding scope of application. However, the salt modulators segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the enhanced flavor masking benefits and growing consumer awareness regarding excessive sodium intake.
Based on form, the taste modulators market is segmented into powder and liquid. In 2023, the powder segment is expected to account for the larger share of the taste modulators market. The large market share of this segment is attributed to the benefits offered by powdered taste modulators over liquid taste modulators, such as better homogeneity, ease of use, transportation, and storage, better stability, wide availability, better shelf-life, and effective product formulation. However, the liquid segment is expected to register the highest CAGR during the forecast period.
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Based on application, the taste modulators market is segmented into beverages, food, pharmaceuticals, and other applications. In 2023, the beverages segment is expected to account for the largest share of the taste modulators market. However, the food segment is projected to register the highest CAGR during the forecast period due to the growing need to maintain the mouthfeel and reduce the after-taste effect in processed foods and the growing consumption of confectionery, snacks & savory products, and bakery products.
Based on geography, in 2023, North America is expected to account for the largest share of the taste modulators market. North America’s major market share is attributed to an increase in consumer preference for innovation and healthy food products, growing health and wellness concerns, rising prevalence of chronic diseases, and a well-established food and beverage industry.
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Key questions answered in the report:
Which are the high-growth market segments in terms of type, form, application, and region?
What is the historical market for taste modulators across the globe?
What are the market forecasts and estimates for the period of 2023 to 2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the taste modulators market?
How is the competitive landscape?
What are the recent developments in the taste modulators market?
What are the different growth strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global taste modulators market, and how do they compete with other players?
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